12 AI News Investors Should Not Miss This Week

4. Semtech Corp (NASDAQ:SMTC)

Number of Hedge Fund Holders: 57

Semtech Corp (NASDAQ:SMTC) is a technology company that designs, develops, manufactures, and markets analogue and mixed-signal semiconductors and advanced algorithms. It also offers Internet of Things (IoT) systems and cloud connectivity services. On March 10, the company unveiled LR2021, the first chip in the LoRa Plus family line, featuring LoRa IP technology and designed specifically for AI-enabled edge devices.

While the chip will be available for customer sampling in April 2025, it represents a significant milestone in Semtech Corp’s (NASDAQ:SMTC) Internet for Things portfolio. It addresses emerging artificial intelligence requirements, such as supporting higher data rates while maintaining low power consumption. Consequently, it should position the company at the intersection of IoT proliferation and edge AI computing. Its ability to support advanced applications such as license plate recognition and gunshot detection should allow the new chip to alleviate significant barriers to AI-enhanced IoT devices.

“The LR2021 revolutionizes IoT connectivity by addressing key challenges for AI-powered deployments of any scale,” stated Shahar Feldman, senior product marketing director for LoRa ICs at Semtech. “Whether for European utilities requiring both LoRaWAN and W-MBUS, North America utilities with LoRaWAN and Wi-Sun FSK, or security systems and smart home applications necessitating long-range LoRa connectivity with protocols such as Z-Wave, this single-chip solution simplifies complexity and enhances performance.”